商业银行操作风险的声誉风险效应及影响因素研究  

Research on Reputation Risk Effects and Influencing Factors of Operational Risk of Commercial Banks

作　　者：史小坤[1] 石乐陶 王文中 SHI Xiaokun;SHI Letao;WANG Wenzhong

机构地区：[1]浙江工商大学金融学院

出　　处：《金融监管研究》2020年第1期30-50,共21页Financial Regulation Research

基　　金：国家社科基金项目“网络借贷中的信息传递、关系治理机制与治理方式选择研究”的资助,项目编号15BJY173

摘　　要：即使是损失很小的操作风险事件,也会引发巨大的声誉风险并诱发系统性金融风险。探究我国商业银行操作风险事件引发的声誉风险效应及影响因素,是本文研究的核心问题。本文以2001年1月至2019年3月中国上市银行公开披露的201件操作风险事件为样本,运用事件法进行分析。结果显示,由于国家声誉的风险分担机制,相较于股份制银行,国有大型银行操作风险事件引发的声誉风险更低且恢复较快;而涉及高管人员的操作风险事件会造成更大的商业银行声誉损失。本文进一步对声誉风险的影响因素进行回归分析,结果表明虽然国有大型银行比中小银行更易受到声誉损害,但国家声誉对国有大型银行操作风险事件的声誉风险效应具有明显的抑制作用,且这种风险抑制作用会与商业银行有形资本形成"替代效应"。本文的政策启示在于,以国有大型银行为主体的金融体系中,应重点关注中小银行和高管人员在监管操作风险事件引发的声誉风险中的重要意义,通过完善落实有形资本的监管制度提升对声誉风险的抑制作用。Even small-loss operational risk events can trigger huge reputation risks and induce systemic financial risks. Exploring the reputation risk effects and influencing factors caused by operational risk events of China’s commercial banks is the core issue of this paper. This paper uses the event method to analyze 201 operational risk events publicly disclosed by Chinese listed banks from January 2001 to March 2019. The results show that due to the risk-sharing mechanism of national reputation, compared with joint-stock banks, the reputation risks caused by operational risk events of large state-owned banks are lower and recovery is faster. Operational risk events involving senior management personnel will cause greater reputation loss of commercial banks. This article further conducts a regression analysis on the influencing factors of reputation risk. The results show that although large state-owned banks are more vulnerable to reputation damage than small and medium banks, national reputation has a significant inhibitory effect on the reputation risk effect of large state-owned banks’ operational risk events. Inhibition will form a "substitution effect" with the tangible capital of commercial banks. The policy enlightenment of this article is that in the financial system with large state-owned banks as the main body, it is important to focus on the significance of small and medium-sized banks and senior management in monitoring the reputation risks caused by operational risk events, and enhance the inhibition of reputation risk by improving the regulatory system of implementing tangible capital.

关 键 词：操作风险事件 无形资本 国家声誉 声誉风险 

分 类 号：F832.33[经济管理—金融学]